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ASIA FX: North Asia Currencies Firmer, USD/CNH Back Close To 7.2800

ASIA FX
BulletEM BulletAPACEmerging Market News

North East Asia currencies are firmer against the USD, with the won outperforming at the margins. Broader USD weakness is evident, amid EUR and EU related currency gains. Hopes of peace in Ukraine is fueling better appetite for EU related assets. 

  • USD/CNH is back sub 7.2900 and close to its 50-day EMA, but hasn't been able to convincingly break lower yet. Session lows rest at 7.2827. The USD/CNY fixing was a touch above yesterday's outcome. Local equities are higher post the lunch time break, but lagging more positive trends elsewhere. The WSJ is also reporting that China is attempting to be a peace maker in relation to the Ukraine situation
  • Spot USD/KRW is back under 1448, up around 0.50% in won terms. This puts the pair back under the 20-day EMA, albeit just. Onshore equities are higher, up+1.2%, which may be helping the won at the margins.  
  • USD/TWD is lagging the broader USD moves, last still above 32.80.  
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North East Asia currencies are firmer against the USD, with the won outperforming at the margins. Broader USD weakness is evident, amid EUR and EU related currency gains. Hopes of peace in Ukraine is fueling better appetite for EU related assets. 

  • USD/CNH is back sub 7.2900 and close to its 50-day EMA, but hasn't been able to convincingly break lower yet. Session lows rest at 7.2827. The USD/CNY fixing was a touch above yesterday's outcome. Local equities are higher post the lunch time break, but lagging more positive trends elsewhere. The WSJ is also reporting that China is attempting to be a peace maker in relation to the Ukraine situation
  • Spot USD/KRW is back under 1448, up around 0.50% in won terms. This puts the pair back under the 20-day EMA, albeit just. Onshore equities are higher, up+1.2%, which may be helping the won at the margins.  
  • USD/TWD is lagging the broader USD moves, last still above 32.80.